TROY, Mich., Oct. 29, 2013 /PRNewswire/ -- Schaeffler – a leading global manufacturer of high-precision automotive products and systems for engines, transmissions and chassis applications – was named as a finalist for the 2014 Automotive News PACE Award in the product category for its fuel-saving torque converter with centrifugal pendulum absorber (CPA).

"It is an honor for Schaeffler to be recognized again as a finalist in the 2014 PACE Awards, as it reaffirms our continuing dedication to developing innovative technology and products," said Jeff Hemphill, chief technology officer, Schaeffler.

Developed at Schaeffler's LuK USA LLC facility in Wooster, Ohio, the integrated torque converter (iTC) takes a completely new approach to the torque converter/clutch system, placing the clutch function directly on the torque converter turbine. This design reduces weight and inertia, minimizes installation space, and allows for the addition of damping concepts like the CPA. By integrating the CPA into the torque converter – something that was previously only possible in rear-wheel-drive vehicles – the iTC can be applied to front-wheel-drive vehicles. As a result, fuel consumption and CO2 emissions are reduced and comfort is increased due to reduced vibration.

This is the fourth time in the past five years Schaeffler has been a finalist in the PACE Awards. In 2012, Schaeffler was a PACE Award winner for its UniAir fully variable engine valve lift system and also earned an Innovation Partnership Award along with Fiat Powertrain and Chrysler Group.

The 20th annual PACE (Premier Automotive Suppliers' Contribution to Excellence) Awards honor suppliers' innovations in products, manufacturing process and capital equipment, and information technology. The judges, who are experts from industry, academia and business, evaluate the innovations for originality and market impact. Winners will be announced at the Max M. Fisher Music Center in Detroit on Monday, April 7, 2014. For complete details on the Automotive News PACE Awards, please visit http://www.autonews.com/pace_award.

About SchaefflerSchaeffler, with its product brands INA, LuK and FAG, is a leading provider of rolling bearing and plain bearing solutions and of linear and direct drive technology, as well as a renowned supplier to the automotive industry of high-precision products and systems for engines, transmissions, and chassis applications. The globally active group of companies generated sales of approximately 11.1 billion euros in 2012. With approximately 76,000 employees worldwide, Schaeffler is one of the largest German and European industrial companies under family ownership. With 180 locations in over 50 countries, Schaeffler has a worldwide network of manufacturing locations, research and development facilities, sales companies, engineering offices, and training centers.

To serve the North American automotive market, Schaeffler operates development centers in: Troy, Mich.; Fort Mill, S.C.; Wooster, Ohio; and Puebla, Mexico. The company's 400 North American engineers and technicians, who are supported by a team of more than 5,500 global engineers, drive development in the region utilizing state-of-the-art test and measurement equipment, computational tools and CAD systems. Schaeffler Automotive has headquarters in Fort Mill and manufacturing facilities in: South Carolina; Missouri; Ohio; Ontario, Canada; Puebla and Irapuato, Mexico. For more information, please visit www.schaeffler.us.